Morgan Stanley entity discloses dealings in Bright Smart Securities

On October 10, 2025, Morgan Stanley & Co., International plc, an associate connected with an unnamed offeror, disclosed its dealings in Bright Smart Securities & Commodities Group Limited. These transactions, made for its own account, were pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers, indicating a possible mandatory general offer. Morgan Stanley & Co., International plc is ultimately owned by Morgan Stanley.

The disclosure details two distinct dealings on October 9, 2025. The entity purchased 24,000 ordinary shares for a total of $216,960. The highest and lowest prices paid per share were both $9.04. Concurrently, it sold 8,000 ordinary shares for a total of $71,960, with the highest price received at $9.00 and the lowest at $8.99. Both transactions were described as hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders.